Filing Flows › Paysign (PAYS) › Q2 2025
Paysign (PAYS) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Paysign (PAYS) reported revenue of $19.1M for the second quarter 2025 (Q2 2025), +33% from a year earlier and +3% from the quarter before. Operating margin was 7.5%, net earnings $1.4M (7.3% of revenue).
Paysign, Q2 2025: revenue $19.1M (+33% year over year), operating margin 7.5%, net earnings $1.4M, operating cash flow $3.6M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.1M | +3% | +33% |
| Gross profit | $11.8M | +0.6% | +55% |
| Operating profit | $1.4M | -42% | 11× |
| Net earnings | $1.4M | -46% | +99% |
| Operating cash flow | $3.6M | — | -82% |
| Free cash flow | $3.6M | — | -83% |
What changed
Revenue was $19.1M in Q2 2025, up 33% year over year and up 3% from the previous quarter. Plasma Industry was the largest line at 56% of revenue. Pharma Industry added $5.1M year over year (up 190%), 107% of the total change. Plasma Industry declined 5%.
Gross margin was 61.6%, up 8.7 points from a year earlier. Operating profit was $1.4M, a 7.5% margin (up 6.7 points year over year). Of the extra revenue versus a year earlier, 28% reached operating profit, above the 1% margin then. Operating expenses grew 38% against revenue growth of 33%. The fastest-growing cost line was Other operating costs (+47%). Net earnings were $1.4M, up 99% year over year. The effective tax rate was 32.1%. Non-operating items added $605K, 30% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $3.6M (down 82% year over year), 262% of net earnings. Non-cash charges added back $2.1M of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items used $821K. Capital expenditures of $86K left free cash flow of $3.6M.
Questions
What was Paysign's revenue in the second quarter 2025?
Paysign (PAYS) reported revenue of $19.1M for the second quarter 2025 (Q2 2025), +33% from a year earlier and +3% from the quarter before.
Was Paysign profitable in the second quarter 2025?
Operating profit was $1.4M (7.5% of revenue) and net earnings $1.4M.
Source: Paysign 10-Q on SEC EDGAR.